Mohan drew a bill upon Suraj for Rs 10,000 who purchased goods on credit. Who is drawee?
Mohan
Suraj
Both A & B
None of these
Suraj is the drawee.
Mohan sold goods to Suraj for Rs. 20000 and draw a bill upon Suraj for the same amount which is payable after 4 months. Mohan retain the bill for 4 months .Who is the drawee?
On 1st Jan, 2017 X sold goods to Y for Rs 10,000 on credit basis. On the same date X drew a bill for Rs 10,000 on Y at two months. Y accepted the bill and returned it to X. On the due date Y could not honor acceptance. What is the journal for recording the dishonor of a bill?